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28 Vickers Street
Edgartown, MA 02539
$2,050,000
Conventional
Property
Bedroom
3
Bathroom
3
Property Type
Conventional
Square ft
1862
Property Description
Charming reverse-contemporary home in Katama - a fabulous beach getaway! Offering privacy from the crowds on a quiet street, yet close to the activity of South Beach. Located in the heart of Katama, with easy access to the bike path and proximity to the Village, Vickers Street is one of the most desirable spots on the Vineyard. The septic is for 3 bedrooms, but with the ability to tie into town sewer for up to 6 bedrooms, the options are endless. The main level offers an abundance of natural light and an open kitchen, dining room, cozy living room with wood-burning fireplace, half bath, and den/office. There are two accesses to the upper deck for extended outdoor entertaining. On the lower level, there are three bedrooms, including an ensuite primary with private access to the lower deck, another full bath, and laundry. The fully unfinished basement can be used for storage or the potential for additional living space. Being sold furnished, you can enjoy the home as it is today or design and create your own Katama retreat. INTERIOR PHOTOS COMING SOON FIRST FLOOR: The formal entrance is on this floor. The full bath and laundry room are on the right as you enter. The primary suite with a private full bath is at the end of the hall with sliders to the lower deck. There are two guest bedrooms, one with a set of sliders which also enjoys the shared deck. SECOND FLOOR: The second floor is the main living space - an open concept with cathedral ceilings and two sets of sliders to a second-story deck for outdoor entertaining. The expansive living room with a wood-burning fireplace and cathedral ceiling is to the right with the powder room beyond. The kitchen and open dining room are to the left, and the den/office space is tucked quietly off the kitchen. BASEMENT: Full unfinished basement with plenty of room for storage or the potential for additional living space.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1989
MLS Number
32400022
Location
Address
28 Vickers Street
City
Edgartown
State
MA
Zip Code
02539
County
DUKES
Listing
Provider
Donnelly + Co., original listing
Name
Donnelly + Co.
Phone
(508) 627-1022
Office Name
Donnelly + Co.
Office Phone
(508) 627-1022
Agent Name
Stephanie Roache

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.